GR Engineering Services Ltd (ASX: GNG) shares are having a big session on Tuesday after the engineering contractor was named across several fresh project updates.
At the time of writing, the GR Engineering share price is up 5.76% to $5.51.
Earlier today, the stock climbed as high as $5.62, marking a new all-time high.
Some profit-taking has since come through, but it has still been a strong day for shareholders.
GR Engineering shares are now up around 24% in 2026 and 92% over the past year.
The latest move comes as investors react to more contract work across the mining and processing sector.
Here’s what was announced.
More work at Laverton
GR Engineering said it has locked in an engineering, procurement and construction contract with Brightstar Resources Ltd (ASX: BTR).
The contract relates to Brightstar’s Laverton Processing Plant in Western Australia.
The company was appointed as the preferred contractor for the project on 17 February, and early works and long-lead item procurement have already commenced.
The contract sum is $110 million.
Brightstar also released its own update today, confirming a final investment decision for its Goldfields Project.
The company said construction of the 1.5 million tonne per annum Laverton plant has now been approved.
It also said first gold remains on track for June 2027.
Sorby Hills adds another contract
The Laverton contract was not the only update involving GR Engineering today.
Boab Metals Ltd (ASX: BML) also confirmed that it has executed an EPC contract with GR Engineering for its Sorby Hills silver-lead project.
Sorby Hills is located in the Kimberley region of Western Australia.
The contract covers the disassembly, refurbishment, and relocation of the existing DeGrussa processing plant to Sorby Hills.
Once moved, the plant will be reconstructed and commissioned to suit Boab’s requirements.
Boab said the EPC contract has a value of $109 million.
Early engineering works and ordering of long-lead items have started, with construction teams expected to mobilise in the coming weeks.
The company said on-site development at Sorby Hills is ramping up, with commercial concentrate production still on track for the second half of 2027.
Why the new work stands out
The market appears to be rewarding the size and spread of the new work.
GR Engineering has now been linked to about $219 million of EPC contract work across the Laverton and Sorby Hills updates.
That is a decent amount of new work for a business that was worth about $887 million before today’s rise.
It also comes during a busy run for the contractor, with recent work tied to the Dayhurst Expansion Project, Tower Hill Project, and Beetalo Basin.
The latest contracts also show GR Engineering is still finding work as miners move projects closer to construction.
The post Record high: This ASX stock is surging on new project wins appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.